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Enforcement
US SEC, DOJ Charge Social Media Influencers for Securities Fraud
By Mark Johnston | 18/12/2022
Eight individuals are accused of engaging in a conspiracy to commit securities fraud through a social media-based “pump and dump” scheme.
AML / KYC
Danske Bank to Pay $2bn to Resolve DOJ, SEC Probes
By Sanday Chongo Kabange | 15/12/2022
Danske Bank admitted to allowing high-risk non-resident customers from other countries including Russia to use its Estonia branch to access US banks.
Enforcement
Singapore Jails Man for Exporting Beverages to North Korea
By Editors | 14/12/2022
The man, while working as a manager for Pokka International, sold beverages he knew would later be exported to North Korea for commercial trade.
Enforcement
ASIC Finds Product Governance Shortfalls by Small Credit Lenders
By Editors | 14/12/2022
TMDs issued by payday lenders and consumer leasing companies lacked detail in the descriptions of their products and target markets. Review triggers were also set too broadly.
Enforcement
UK FCA Fines Metro Bank for Incorrect RWA Disclosure
By Sanday Chongo Kabange | 14/12/2022
The bank published incorrect information concerning its risk-weighted assets and did not disclose the error to investors despite knowing it was wrong.
AML / KYC
Wirecard Trial Begins With Defendants Blaming Each Other
By Mark Johnston | 14/12/2022
Former CEO Markus Braun and his co-defendants face up to 15 years in jail, though a verdict is not expected until at least 2024.
AML / KYC
FTX Founder Arrested, Charged by SEC, SDNY, CFTC
By Sanday Chongo Kabange | 14/12/2022
US authorities have charged Sam Bankman-Fried for defrauding customers, investors, lenders, and campaign finance violations.
AML / KYC
UK Police Arrest Chinese Tycoon on US Bribery Charges
By Editors | 14/12/2022
The co-chairman of Chinese real estate firm Guangzhou R&F Properties is accused of paying bribes to San Francisco authorities from 2015 through 2020.
Enforcement
US Court Convicts Another JPM Trader on Spoofing Charges
By Editors | 13/12/2022
Former precious metals trader faces up to 30 years in prison for placing deceptive orders intended in COMEX gold and silver futures.
AML / KYC
UK FCA Fines Santander for “Persistent Gaps” in AML Controls
By Editors | 13/12/2022
The FCA said Santander did not manage business banking accounts correctly and did not promptly deal with automated monitoring alerts.
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